Back to top

Image: Bigstock

CNX Resources (CNX) to Report Q4 Earnings: What's in Store?

Read MoreHide Full Article

CNX Resources Corporation CNX is scheduled to release fourth-quarter 2019 earnings on Jan 30, 2020, before the market opens. This exploration and production company delivered a positive earnings surprise of 33.3% in the last reported quarter.

Factors to Consider

CNX Resources brought in-line 24 wells in the third quarter, with majority of them starting production during the latter part of the quarter. Fourth-quarter production is expected to have benefited from the same.

The Zacks Consensus Estimate for fourth-quarter gas sales volume is pegged at 141 billion cubic feet equivalent, indicating year-over-year growth of 3.7%.

Share repurchases and the resultant drop in shares outstanding are anticipated to have had a positive impact on fourth-quarter earnings.

However, ongoing decline in commodity prices may have had an adverse impact on earnings in the to-be-reported quarter.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.

CNX Resources Corporation. Price and EPS Surprise

Earnings ESP: The company’s Earnings ESP is -411.11%.

You can uncover the best stocks to buy or sell before they’re reported with our  Earnings ESP Filter.

Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3.

Stocks to Consider

Berry Petroleum Corporation BRY is slated to release fourth-quarter results on Mar 4. It has an Earnings ESP of +3.66% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Devon Energy Corporation (DVN - Free Report) is slated to release fourth-quarter results on Feb 18. It has an Earnings ESP of +4.30% and a Zacks Rank #2.

Matador Resources Company MTDR is slated to release fourth-quarter results on Feb 25. It has an Earnings ESP of +2.50% and a Zacks Rank #2.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.

This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.

See their latest picks free >>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Devon Energy Corporation (DVN) - free report >>